MONDAY APRIL 20, 2009

ECONOMIC DOWNTURN IMPACTS CPC PENSION PLAN RESULTS
At December 31, 2008, the Canada Post pension plan (the Plan) held total net assets of $11,709 million, a decrease of $2,957 million from prior year. The Plan earned a rate of return of negative 19.3 per cent over the year against a benchmark return of negative 17.6 per cent. This was the first time since the Plan’s inception eight years ago that the rate of return underperformed its benchmark. The Plan began 2008 with a solvency surplus, partially mitigating the impact of the financial market decline, and ended 2008 with an estimated solvency deficit of $1,190 million.

According to Douglas Greaves, Vice-President Pension Fund and Chief Investment Officer, the Plan is fully funded on a “going-concern” basis with an estimated surplus of $675 million, and the Plan is designed to achieve the long-term returns required to fund pension benefits. The Canada Post pension plan is a defined benefit plan that provides inflation-protected benefits to almost 80,000 active members, retired members, deferred pensioners and beneficiaries. “As the Plan sponsor, the financial risk in providing a defined benefit pension plan rests with Canada Post. Therefore the best security for members is a financially-strong Plan sponsor,” said President Moya Greene.
Learn more:
http://canadapost.ca/cpo/mc/aboutus/news/pr/2009/2009_apr_pension.jsf

CANADIAN OUTLOOK EXECUTIVE SUMMARY
A huge decline in corporate profits has frozen Canadian business investment and hiring intentions, according to the Conference Board of Canada quarterly economic forecast. Weak employment prospects have, in turn, led households to curtail spending. This spring 2009 report also notes that government spending will be the only remaining pillar of Canada’s once buoyant domestic economy with the price tag of deep and enduring deficits.

The update to the Conference Board’s Compensation Planning Outlook survey, reported Canadian organizations continue to lower their projected 2009 salary increases for non-unionized employees in response to the economic recession.
Learn more: http://conferenceboard.ca/documents.aspx?DID=3012

TORONTO CHAPTER FEATURES EXECUTIVE BRIEFINGS APRIL 23
Challenging economic times demand focus and clear thinking. Up-to-date, actionable information on issues fundamental to members’ businesses is essential to optimize resource planning and decision making. Survivors 2009: Strategies for Tough Economic Times features briefings and workshops on three key topics:
2009 View of Privacy: When Did You Last Look at Your Business Risk?
The definition of Privacy and personal information is evolving. Technology continues to push the boundaries of what’s private and what isn’t. Consumers are changing behavior and questioning how personal information is being used and shared. How does business meet customer expectations and legal obligations in tough economic times when the appetite to use data increases?
Discussion leader: Amanda Maltby, General Manager, Privacy, Canada Post Corporation.
Address Accuracy: Rule Changes, Address Data Capture and Quality Issues
Up to the minute information on rule changes, industry experiences with data quality, address capture, and addressing issues – it’s all in this briefing!
Discussion Leader: Paolo Tuscano, Officer – Address Management Data and Systems.
Ontario Tax Harmonization: What Are Your Issues?
The NAMMU Board and VAM Council are studying the impact of the recent Ontario legislation on all sectors of the mailing industry. Ensure your questions are being addressed.
Information and Registration: click here
Questions: nammu@ rogers.com

ONTARIO TAX HARMONIZATION
The decision to convert Ontario’s retail sales tax to a harmonized value-added structure (with a few exemptions) in partnership with the federal government has sparked substantial interest in Quebec. Ontario will charge a combined 13 per cent sales tax starting July 1, 2010, and HST will be collected by the Federal government. Ontario will receive $4.3 billion dollars over two years, $4 billion of which will be passed to Ontario residents. Quebec’s decision to consider adopting this harmonization model means Quebec would have to stop charging its 7.5 per cent sales tax on top of the purchase price and the GST. Consideration is being given to setting the QST at 8.0 per cent as the Ontario model, allowing Quebec to maintain its current sales tax revenues.

NAMMU Members are asked to forward their questions/comments on the HST to the NAMMU task force reviewing the impact of the Ontario legislation on all sectors of the mailing industry: executive@nammu.org

For an analysis of the Ontario Budget by the Conference Board of Canada:
http://www.conferenceboard.ca/topics/economics/budgets/on_2009_budget.aspx

For an explanation of HST as it works in the Atlantic Provinces from Canada Revenue Agency’s website:
http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/gnrl/hst-tvh/menu-eng.html

AWARD WINNING CASCADES HOSTS MONTREAL CHAPTER
Cascades recently won the IR Magazine Canada Award for best investor relations by sector, paper and forest products. Cascades Director, Investor Relations, Mr. Didier Filion, also received the award for best investor relations officer for small and mid-cap companies. In addition, Cascades’ annual and sustainable development reports are lauded by the media and investors, and the organization is the recipient of many industry awards, recognizing their commitment to sound and innovative environmental management.

No surprise then that following the Montreal Chapter business agenda April 16, Normand Champagne, General Sales Director, Cascades Inc., delighted members by introducing dynamic guest speaker, Claude William Genest, Deputy Leader of the Green Party of Canada, and Emmy award nominee for the pioneering television program “Regeneration: The Art of Sustainable Living.” Genest is the son of Quebec acting icon, Emile Genest, and is one of only 230 Canadians chosen to be trained by Al Gore to deliver his “Inconvenient Truth” slide show. Montreal Chapter Director, Michel Viger (Amdocs) thanked Cascades for the opportunity to hear from Mr.Genest, as well as the tour of the Cascades plant that followed

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